Shares of pharmaceutical companies gained ground for the sixth consecutive day with the Nifty Pharma index gaining 12 per cent during this period, as compared to a 2.6 per cent jump in the Nifty 50 index.
Analysts attribute the run-up in pharma stocks to positive corporate announcements on the US drug regulatory front, especially Sun Pharma, which infused a fresh life into these classic defensive plays.
“Positive news flow at the company / corporate level in terms of regulatory issues being resolved, pick-up in the mid-and small-caps and investors hunting ...